Calidi Biotherapeutics Announces Pricing of $7.5 Million Public Offering of Common Stock
November 14 2024 - 8:30AM
Calidi Biotherapeutics, Inc. (NYSE AMERICAN: CLDI) (“Calidi” or the
“Company”), a clinical-stage biotechnology company developing a new
generation of targeted immunotherapies, today announced that
it has priced its public offering of 4,437,869 shares of the
Company’s common stock at a price of $1.69 per share.
The closing of the offering is expected to occur
on or about November 15, 2024, subject to the satisfaction of
customary closing conditions.
Ladenburg Thalmann & Co. Inc. is
acting as exclusive placement agent for the offering.
The gross proceeds to Calidi from the offering,
before deducting the placement agent fees and other offering
expenses payable by the Company, are expected to
be approximately $7.5 million. Calidi intends to use the net
proceeds from the offerings for working capital and for general
corporate purposes and pre-clinical and clinical trials.
The securities described above (excluding the
warrants and the shares of common stock underlying the warrants)
are being offered pursuant to a shelf registration statement on
Form S-3 (File No. 333-282456), which was declared effective by the
United States Securities and Exchange Commission (“SEC”) on October
10, 2024. The registered direct offering is being made only by
means of a prospectus, including a prospectus supplement, which is
part of the effective registration statement, that will be filed
with the SEC. Electronic copies of the final prospectus
supplement and accompanying prospectus may be obtained, when
available, on the SEC’s website at http://www.sec.gov or by
contacting Ladenburg Thalmann & Co. Inc., Prospectus
Department, 640 Fifth Avenue, 4th Floor, New York, New York 10019
or by email at prospectus@ladenburg.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described therein, nor shall there be any sales of these
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of such jurisdiction.
About Calidi
Biotherapeutics
Calidi Biotherapeutics (NYSE American: CLDI) is
a clinical-stage immuno-oncology company with proprietary
technology designed to arm the immune system to fight cancer.
Calidi’s novel stem cell-based platforms are utilizing potent
allogeneic stem cells capable of carrying payloads of oncolytic
viruses for use in multiple oncology indications, including
high-grade gliomas and solid tumors. Calidi’s clinical stage
off-the-shelf, universal cell-based delivery platforms are designed
to protect, amplify, and potentiate oncolytic viruses leading to
enhanced efficacy and improved patient safety. Calidi’s preclinical
off-the-shelf enveloped virotherapies are designed to target
disseminated solid tumors. This dual approach can potentially
treat, or even prevent, metastatic disease. Calidi Biotherapeutics
is headquartered in San Diego, California. For more information,
please visit www.calidibio.com.
Forward-Looking Statements
This press release may contain forward-looking
statements for purposes of the “safe harbor” provisions under the
United States Private Securities Litigation Reform Act of 1995.
Terms such as “anticipates,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intends,” “may,” “might,” “plan,”
“possible,” “potential,” “predicts,” “project,” “should,”
“towards,” “would” as well as similar terms, are forward-looking in
nature, but the absence of these words does not mean that a
statement is not forward-looking. These forward-looking statements
include, but are not limited to, statements concerning upcoming key
milestones (including the reporting of interim clinical results and
the dosing of patients), planned clinical trials, and statements
relating to the safety and efficacy of Calidi’s therapeutic
candidates in development. Any forward-looking statements contained
in this discussion are based on Calidi’s current expectations and
beliefs concerning future developments and their potential effects
and are subject to multiple risks and uncertainties that could
cause actual results to differ materially and adversely from those
set forth or implied in such forward-looking statements. These
risks and uncertainties include, but are not limited to, the risk
that Calidi is not able to raise sufficient capital to support its
current and anticipated clinical trials, the risk that early
results of clinical trials do not necessarily predict final results
and that one or more of the clinical outcomes may materially change
following more comprehensive review of the data, and as more
patient data becomes available, the risk that Calidi may not
receive FDA approval for some or all of its therapeutic candidates.
Other risks and uncertainties are set forth in the section entitled
“Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in the Company’s Registration Statements filed with the
SEC on (i) Form S-4 filed on August 2, 2023 and the corresponding
prospectus filed on August 4, 2023, and (ii) on Form S-1 filed on
April 15, 2024, and the Company’s periodic reports filed with the
SEC on (i) Form 10-K filed on March 15, 2024, (ii) Form 10-Q filed
on May 14, 2024, (iii) Form 10-Q filed on August 13, 2024 and (iv)
Form 10-Q filed on November 12, 2024. These reports may be amended
or supplemented by other reports we file with the SEC from time to
time.
For Investors:Dave Gentry, CEORedChip Companies,
Inc.1-407-644-4256CLDI@redchip.com
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